Question

Benchmarking is:

a. A system of performance metrics that seeks to motivate suppliers to perform better.
b. A system of marking defective inbound inventory so it can quickly be identified for return to the supplier.
c. A program where suppliers compete for contracts, but those companies who are outbid are provided advice for winning future contracts.
d. A practice where companies attempt to learn and apply the best practices of other companies.

Answer 1

d. A practice where companies attempt to learn and apply the best practices of other companies.

Step-by-step explanation:

Benchmarking is the practice where the process and the performance pattern would be compared with the other companies in order to serve as the best company. It could compare the products, services, processes, etc

So according to the given options, the last option would be correct as it represent that the companies would attempt for learning and the same is applied for the best practices with respect to the other companies